Varroc Engineering Limited — Interim / Quarterly Report 2020

Dec 9, 2019

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	-....-1	National Stock ExchangeofIndia Limited		BSELimited
		ExchangePlaza,Plot No. C/1, G Block,		PhirozeJe.1eebhoy Towers,
		Bandra-Kurla Complex,		DalalStet, Fort,
		Bandra (East), Mumbai-400051.		~-400001.
		NSESymbol:VARROC		BSESecurity Code: 541578
				SecurityID:VARROC

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Varroc Engineering Limited

Related Party Disclosure

• a. Related parties and their relationships

• 1 Joint Controlled Entities

Nuova CTS S.r.l, Italy

Varroc TYC Corporation, British Virgin Islands Varroc TYC Auto Lamps Co. Ltd., China (Subsidiary of Varroc TYC Corporation, BVI) Varroc TYC Auto Lamps Co. Ltd. CQ, China (Subsidiary of Varroc TYC Auto Lamps Co Ltd.

Varroc Dell'Orto Private Limited ( w.e.f. Jan 10, Varroc ELBA Electronics SRL, Romania ( w.e.f. Ja

• 2 Key Management Personnel

Mr. Tarang Jain ‐ Managing Director

Whole time Directors

Mr. Arjun Jain( w.e.f August 07, 2018) Mr. Ashwani Maheshwari

Non‐executive Directors

Mr. Naresh Chandra

Independent Directors

Mr. Gautam Khandelwal Mr. Marc Szulewicz Mrs. Vijaya Sampath Mr. Vinish Kathuria

• 3 Relatives of Key Management Personnel with whom transactions have taken place

• 0 Mrs. Rochana Jain

Mr. Dhruv Jain

• 4 Enterprises Owned or controlled by key management personnel and/or their relatives with whom transactions have taken place

Endurance Technologies Limited TJ Holding Trust Naresh Chandra Holdings Suman Jain Holdings Trust MS Consulting Services

b. Transactions with related parties

b.	Transactions with related parties		(Rs. in Million)
	Description of the nature of transactions	Volume oftransactions
		For the halfyear endedSept 30, 2019	As at Sept 30, 2019
			Receivable	Payable
**A] **	Sale of goods, services and fixed assets*
	Endurance Technologies Limited	32.03	7.62
	Varroc TYC Auto Lamps Co. Limited	1.20	103.82
	Nuova CTS S.r.l	0.67
**B] **	Purchase of goods, services and fixed assets *****
	Nuova CTS S.r.l	53.74		18.22
	Varroc TYC Auto Lamps Co. Limited.	2.96		1.40
**C] **	Royalty received
	Varroc TYC Auto Lamps Co. Limited.	36.10	35.00
**D] **	Professional charges paid
	Mr. Naresh Chandra	0.24

Varroc Engineering Limited

Related Party Disclosure

**E] **	Directors fees paid
	Mr. Naresh Chandra	0.02		‐
	Mr. Gautam Khandelwal	0.70		‐
	Mr. Marc Szulewicz	0.40
	Mrs. Vijaya Sampath	0.60
	Mr. Vinish Kathuria	0.50
**F] **	Dividend paid
	Mr. TarangJain	242.92
	Mr. Arjun Jain	0.02
	Mr. Dhruv Jain	0.02
	TJ Holdings Trust	135.40
	Naresh Chandra Holdings Trust	40.00
	Suman Jain Holdings Trust	40.00
**G] **	Managerial remuneration #
	Mr. TarangJain	45.33
	Mr. Arjun Jain	6.84
	Mr. Ashwani Maheshwari	12.67
**H] **	Dividend received
	Varroc TYC Auto Lamps Co. Limited.	250.95
	Nuova CTS S.r.l	10.96
**I] **	Investment in joint venture
	Varroc‐Elba Electronics S.R.L	41.57
	Varroc Dell'Orto Private Limited	15.0

• All the values exclusive of taxes if any.

** Amount below rounding off norm adopted by the Company.

As gratuity and compensated absences are computed for all the employees in aggregate, the amount relating to the key managerial personnel, cannot be individually identified.

For Varroc Engineering Limited T.R.Srinivasan Group CFO